More than 18,620 new companies were established across different governorates during the period from 30 June 2017 to 30 June 2018, said Mona Zobaa, the chairperson of the General Authority for Investment and Free Zones (GAFI), on Sunday.
The new companies were established with a total capital amounting to more than EGP 46.5m, and they are expected to generate more than 31,500 jobs.
The industrial sector was at the forefront of the sectors that witnessed the establishment of the largest number of these companies during the period mentioned, with more than 6,500 new companies, followed by the service sector with 6,109 new companies established, with around EGP 21m of capital, according to the statement.
Zobaa added that that the rate of establishment of companies during the aforementioned period witnessed a remarkable increase of nearly 3,500 companies compared to the same period of the past year.
